Corning (NYSE:GLW) CEO Wendell Weeks Sells 100,000 Shares

Corning Incorporated (NYSE:GLW) CEO Wendell Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Corning Stock Down 7.2%

Shares of GLW traded down $13.42 during trading hours on Tuesday, reaching $174.12. 16,527,296 shares of the stock traded hands, compared to its average volume of 12,155,601. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $174.04 and a 200 day simple moving average of $131.37. Corning Incorporated has a 52 week low of $49.47 and a 52 week high of $211.79. The company has a market cap of $149.86 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 2.54 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm earned $0.54 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Ratings Changes

A number of research firms recently issued reports on GLW. Citigroup raised their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. UBS Group raised their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Truist Financial raised their price objective on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s Amazon agreement adds another major customer to its growing list of AI infrastructure partners, strengthening revenue visibility and highlighting its role in the shift from copper to optical fiber. Amazon strikes multibillion-dollar deal with Corning to power AI data centers in U.S.
• Positive Sentiment: The company also plans to expand manufacturing in North Carolina and add about 1,000 jobs, which supports U.S.-based production and signals that the Amazon contract could be long-lasting. Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
• Positive Sentiment: Recent commentary points to strong growth in Corning’s optical communications sales and expanding margins, suggesting the AI demand surge is already improving fundamentals. Forget the Big Chipmakers for a Minute: This Overlooked AI Stock Is Up 114% and Just Landed Deals With Nvidia and Amazon
• Neutral Sentiment: Q1 earnings comparisons versus other electronic components stocks are drawing attention, but this appears more like a sector review than a new company-specific catalyst. Q1 Earnings Highlights: Corning (NYSE:GLW) Vs The Rest of The Electronic Components Stocks
• Negative Sentiment: Some investors may still worry about valuation after the sharp run-up in the stock, especially if growth expectations become too aggressive. Corning’s Amazon Data Center Deal Deepens AI Ties Despite Valuation Concerns

Institutional Trading of Corning

Large investors have recently bought and sold shares of the company. Capital Research Global Investors purchased a new position in shares of Corning in the third quarter worth about $907,164,000. Norges Bank purchased a new position in shares of Corning in the fourth quarter worth about $921,435,000. Wellington Management Group LLP increased its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc increased its stake in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Corning by 102.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.